Mr. Huang is the owner of a catering company who urgently needed a short term loan of HKD2 million to assist with cashflow and at the time he was at a loss where to borrow money. Mr. Huang tried to borrow from a major bank however he was denied a loan due to the complicated approval process and stress tests conducted by the major institution.
A friend referred HKDRP to Mr. Huang, whom he recognised and contacted us. After a short discussion he provided the relevant documents and within two days, Mr Huang obtained a full loan of HKD2 million from our recommended financial institution.
After a few months of the loan approval, Mr. Huang payed all interest and fees on time and HKDRP reviewed and analysed Mr. Huang’s financial situation. Over a period of a month, we guided him on how to improve his credit rating and restructured his finances. We then referred him to a major bank who approved a refinanced loan with a low interest rate of 2.75% therefore allowing Mr. Huang to reduce his overhead and expenses. This restructure allowed Mr Huang to pay off the loan and the company continues to be successful.
Miss Liu is an employee at a large department store who earned about HKD90,000 per month. She was in a large amount of debt of with an outstanding loan of around HKD1.5 million at a rate of 36% interest. This loan was used to cover home loan interest and pay outstanding credit cards. The monthly payment was close to HKD70,000 per month, therefore Miss Liu could only pay the minimum interest on her credit card and at the time the payment pressure caused a lot of stress on herself and family.
After seeing an advertisement on the Internet, Miss Liu contacted HKDRP. Over a period of a few weeks, we were able to consolidate her loans and we restructured her finances and obtained a mortgage loan of HKD1.5 million at an annual interest rate of 9%. Miss Liu repaid all credit card debts and her monthly contributions were reduced to less than HKD20,000 per month. The pressure of Miss Liu’s financial stress was reduced.
Three months later, Miss Liu’s credit rating improved and HKDRP yet again reviewed her situation and successfully obtained a refinanced loan with an improved interest rate. With this improvement, Miss Liu’s monthly interest lowered to less than HKD10,000 per month and she now has her finances under control and is able to enjoy a better life.